CESC trade ideas
CESC Short term target of 660 with RR 1:3CESC consolidated well from 660-670 Zone of 9th June 2020. It is seen that the stock is taking support near 600 levels which also preserves the level of the strong bullish long day candle formation of 1st June 2020. Today, a green candle with decent volume is generated which closed above last 5 trading days closing price. Daily RSI level is at 52 which indicates to be a decent turnaround. A triangle formation is also visible at this level. A close below 595 negates the view.
For intraday view of 24th June 2020, last few trading days are mostly balanced low range days. Any open above 605, and driving higher towards 612-614 can be bought for a intraday move on a pull back with SL at days low. If first 15 mins forms a bearish candle breaking 605 and staying below, the intraday bullish view is negated.
Happy trading guys. Always calculate risk amount before entering a trade and have a strict SL. Cheers.
CESC Stock ( A Value stock within its Value ?)CESC Stock ( A Value stock within its Value ?)
Stock Support at 570-575 Levels
Stock is at Major Support level and if continues to hold this support level then another move can come up to 660 Levels
Formation of rectangle pattern and the stock is trading at lower bottom of the rectangle
If Support breaks then stock will move till 500 Levels which is unlikely
Stock is Trading at exact 100% retracement level which is again at support level of 570-575
Fibonacci retracement
100 % Retracement ; 576
61.8% retracement Upper - 633
78.60% retracement level upper ; 648.55
RSI; RSI is at 40 at 14 day which is also strength showing in Long Moves
Momentum in last 10 days is also showing improvement towards upper side right now 7.40 Points which is less also which is closer to Support
Levels
Donachian Level Lower Level 570 which is stock is trading at current levels , Basis 587 if breaks can go long upto 605
Disclaimer
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All investments involve risk, and the past performance of a security, industry, sector, market, financial product, trading strategy, or individual’s trading does not guarantee future results or returns. Investors are fully responsible for any investment decisions they make. Such decisions should be based solely on an evaluation of their financial circumstances, investment objectives, risk tolerance, and liquidity needs.
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CESC : Cup N Handle Pattern found in Daily Chart with OutperformCESC : made cup n handle pattern in daily chart.
So, if it will break 668.35 above and sustain 2-3 days , It may go up to 700, 728 levels.... after breakout sl would be 630 ...
This is above 50 days EMA
Breakout of Cup n Handle is also 200 Days EMA.
So, Super Excitement to close above this level to confirm new upside.
In this covid19 situation stock is strong enough.
as per above data.
Risk is yours and Reward is too yours totally.